BELGIUM METAL: what changed
What changed
BELGIUM METAL
NACE 25.110, Manufacture of metal structures and parts of structures
filed annual accounts (NBB)
Net result for the year
€47,723
2024 · €80,062-€32,339
Equity
€47,703
2024 · €46,768+€935
Cash
€31,700
2024 · €31,402+€298
Balance sheet total
€2.3m
2024 · €2.5m-€199,338
Largest movements
Assets
- Tangible fixed assets -€253,002
down €253,002 (-10.8%), from €2.4m to €2.1m
of which Land and buildings: -€245,976
- Receivables within one year +€51,601
up €51,601 (+56.4%), from €91,553 to €143,154
of which Trade receivables: +€55,643
Equity and liabilities
- Debts after one year -€183,805
down €183,805 (-8.9%), from €2.1m to €1.9m
- Current portion of long-term debt -€34,813
down €34,813 (-15.9%), from €218,618 to €183,805
- Other debts -€27,000
down €27,000 (-54.0%), from €50,000 to €23,000
- Trade debts +€26,446
up €26,446 (+80.6%), from €32,797 to €59,243
Income statement
- Gross operating margin -€37,721
down €37,721 (-4.5%), from €830,474 to €792,752
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€80,062
Gross operating margin
-€37,721
Staff costs
+€1,761
Depreciation
+€57
Other operating charges
-€307
Financial income
+€0
Financial charges
+€3,872
Result 2025
€47,723
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€263,060
Investment
€0
Financing
-€262,762
Cash 2024
€31,402
From operations (derived)
+€263,060
Net result for the year
+€47,723
Depreciation
+€253,002
Receivables within one year
-€51,601
Deferred charges and accrued income
-€1,765
Trade debts
+€26,446
Tax, wage and social debts
+€16,255
Other debts
-€27,000
Financing
-€262,762
Debts after one year
-€183,805
Current portion of long-term debt
-€34,813
Short-term financial debts
+€2,644
Contributions, distributions and other
-€46,788
Cash 2025
€31,700
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,477,940 | €2,278,602 | -€199,338 | -8.0% |
| Fixed assets | 21/28 | €2,350,793 | €2,097,791 | -€253,002 | -10.8% |
| Intangible fixed assets | 21 | €193 | €193 | = | 0.0% |
| Tangible fixed assets | 22/27 | €2,350,600 | €2,097,598 | -€253,002 | -10.8% |
| Land and buildings | 22 | €2,300,390 | €2,054,414 | -€245,976 | -10.7% |
| Plant, machinery and equipment | 23 | €49,834 | €43,185 | -€6,650 | -13.3% |
| Leasing and similar rights | 25 | €375 | - | -€375 | |
| Current assets | 29/58 | €127,147 | €180,811 | +€53,663 | +42.2% |
| Amounts receivable within one year | 40/41 | €91,553 | €143,154 | +€51,601 | +56.4% |
| Trade receivables | 40 | €83,703 | €139,346 | +€55,643 | +66.5% |
| Other amounts receivable | 41 | €7,850 | €3,808 | -€4,042 | -51.5% |
| Cash at bank and in hand | 54/58 | €31,402 | €31,700 | +€298 | +0.9% |
| Deferred charges and accrued income | 490/1 | €4,192 | €5,956 | +€1,765 | +42.1% |
| Total equity and liabilities | 10/49 | €2,477,940 | €2,278,602 | -€199,338 | -8.0% |
| Equity | 10/15 | €46,768 | €47,703 | +€935 | +2.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Revaluation surpluses | 12 | €371,185 | €371,185 | = | 0.0% |
| Reserves | 13 | €75,607 | €75,607 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €69,410 | €69,410 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€604,270 | -€579,548 | +€24,723 | +4.1% |
| Investment grants | 15 | €142,273 | €118,485 | -€23,788 | -16.7% |
| Amounts payable | 17/49 | €2,431,172 | €2,230,898 | -€200,273 | -8.2% |
| Amounts payable after more than one year | 17 | €2,057,457 | €1,873,652 | -€183,805 | -8.9% |
| Financial debts | 170/4 | €2,057,457 | €1,873,652 | -€183,805 | -8.9% |
| Amounts payable within one year | 42/48 | €373,714 | €357,246 | -€16,468 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €218,618 | €183,805 | -€34,813 | -15.9% |
| Financial debts | 43 | €27,455 | €30,099 | +€2,644 | +9.6% |
| Credit institutions | 430/8 | €27,455 | €30,099 | +€2,644 | +9.6% |
| Trade debts | 44 | €32,797 | €59,243 | +€26,446 | +80.6% |
| Suppliers | 440/4 | €32,797 | €59,243 | +€26,446 | +80.6% |
| Taxes, remuneration and social security | 45 | €44,844 | €61,099 | +€16,255 | +36.2% |
| Taxes | 450/3 | €4,741 | €5,891 | +€1,150 | +24.3% |
| Remuneration and social security | 454/9 | €40,103 | €55,208 | +€15,105 | +37.7% |
| Other amounts payable | 47/48 | €50,000 | €23,000 | -€27,000 | -54.0% |
| Remuneration, social security and pensions | 62 | €419,438 | €417,677 | -€1,761 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €253,058 | €253,002 | -€57 | 0.0% |
| Other operating charges | 640/8 | €51,603 | €51,910 | +€307 | +0.6% |
| Gross operating margin | 9900 | €830,474 | €792,752 | -€37,721 | -4.5% |
| Operating profit (loss) | 9901 | €106,375 | €70,164 | -€36,211 | -34.0% |
| Financial income | 75/76B | €23,788 | €23,788 | +€0 | 0.0% |
| Recurring financial income | 75 | €23,788 | €23,788 | +€0 | 0.0% |
| Financial charges | 65/66B | €50,101 | €46,229 | -€3,872 | -7.7% |
| Recurring financial charges | 65 | €50,101 | €46,229 | -€3,872 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €80,062 | €47,723 | -€32,339 | -40.4% |
| Profit (loss) for the period | 9904 | €80,062 | €47,723 | -€32,339 | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €80,062 | €47,723 | -€32,339 | -40.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.